BIT Bitcoin Miner Building Center In Texas

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According to a recent press release, major bitcoin mining firm BIT Mining Limited has entered a binding investment term sheet with Dory Creek LLC, a subsidiary of cloud mining service Bitdeer, to invest $25.74 million and jointly construct and operate a mining data center in Texas.

The total power capacity of the center is expected to be 57.2 megawatts, with more than 85% of this generated by clean and low-carbon energy.

BIT Mining has a total bitcoin mining hash rate capacity of over 1,031 petahashes per second. Its BTC.com mining pool currently contributes about 14.79 exahashes per second, or 9.85% of the total network hash rate. It also operates three hydroelectric cryptocurrency data centers and positioned the plans in Texas as a compliment to its mission to leverage only clean energy.

“Upon completion of the Texas Mining Center, over 98% of [BIT Mining’s] total power capacity would be generated by clean and low-carbon energy,” according to the release. “Going forward, BIT Mining intends to do its part, fulfill its obligations to achieving carbon neutrality and proactively seek out additional high-quality mining resources overseas.”

Texas’ almost nonexistent reserve margin for energy supply, and a relatively low energy cost has made it an attractive place for bitcoin mining operations. Bitmain has set up shop in the state and lawmakers there have outwardly embraced the practice.



Source link Bitcoin Magazine

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